Nigeria: Consortium Begins 12,000-Capacity Arena in Lagos

26 February 2024
Daily Trust (Abuja)

A consortium led by the Persianas Group and the Nigerian Sovereign Investment Authority (NSIA or The Authority) has flagged off the construction of a $1 million 12,000-capacity arena in Victoria Island, Lagos, Nigeria.

The consortium is made of the Persianas Group, NSIA, Live Nation (the world's leading live entertainment company) and Oak View Group - a global sports and entertainment company which is behind the £365m Co-op Live Arena in Manchester, UK.

The consortium plans to create a monumental centre for entertainment and sports, with a hotel and ample parking space and is expected to create over 1,500 direct and indirect jobs.

The Chairman of the Persianas Group Tayo Amusan, said, "Project Arena has been a long time coming and it is an honour to bring this project to life. This project is monumental in supporting Nigeria's thriving entertainment and sports industry.

"A state-of-the-art music-first arena driven by technology will allow our artistes deliver world-class performances to a home audience; something that has been missing for a long time now. Beyond music, the arena will also serve as a home for major sporting events, including basketball and UFC fights."

The CEO of NSIA, Mr Aminu Umar-Sadiq, said, "This groundbreaking ceremony is the culmination of extensive planning, collaboration and dedication of all parties involved. We look forward to delivering a world-class facility that will serve as a hub for entertainment, sports and cultural events for generations to come."

The Chairman and CEO of the Oak View Group, Tim Leiweke, said, "The arena will also give major brands - global and local - the chance to showcase to Nigerian audiences for the first time over 200 electrifying events per year."

Read the original article on Daily Trust.

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